SAO PAULO, March 14 (Reuters) - Brazilian retailer Via said on Monday it reached an agreement to transfer state tax ICMS credits of 300 million reais ($58.57 million).

According to the company, the impact expected from this transaction on its cash flow and results will be appropriated over the next 18 months. This year, Via has already monetized 500 million reais in tax credits, excluding discounts practiced in this type of transaction, it said.

($1 = 5.1224 reais) (Reporting by Aluisio Alves; Writing by Peter Frontini; Editing by Chris Reese)